Even if you haven’t so much as researched houses to visit yet, it can be valuable to see your mortgage pro first. What for? How can we help before you have made an offer, and don’t know yet how much you want to borrow?
We Will Help You Pre-Qualify
When we pre-qualify you, we help you determine the amount in mortgage payments you can fit in your budget, and the loan amount you will qualify for. During this process, we determine your ability to borrow – analyzing your job, available money for down payment, debt, income, and other circumstances. It’s short and to the point; We keep the paperwork light.
After you qualify, we give you what’s called a Pre-Qualification Letter (your real estate agent might call it a “pre-qual”), which says that we are helping you to find the ideal mortgage loan program to meet your needs and that we are confident you will qualify for a mortgage for up to a certain amount.
A number of beneifits open to you once you find your next house, and have pre-qualification power. The first is that you can know what you will be able to afford when calculating the offer. More important to the seller, your pre-qualification is like your having walked into their house with a bag full of cash ready to purchase the home! They will not need to wonder if that they have been wasting their time if you will not have the ability to qualify for a high enough mortgage loan. The seller won’t be concerned that he won’t be able to trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary loan amount won’t be something for them to be concerned about. You will have the influence of a buyer ready to make the purchase on the spot!
We can help you pre-qualify
We can help you calculate how much of a loan you can qualify for and the monthly mortgage payment amount you can afford by getting you pre-qualified. We can achieve this by considering your income and debts, your employment and housing circumstances, your available funds for down payment, required reserves, and other financial considerations.